Monday, April 6, 2015

Greece Confirms April 9 Payback to IMF, Reform Talks to Continue Monday

Greece is ready to issue the planned payment to the International Monetary Fund (IMF) on April 9 and to resume policy discussions with the creditors on Monday, IMF chief Christine Lagarde said after a meeting with Greek Finance Minister Yanis Varoufakis.

"Minister Varoufakis and I exchanged views on current developments and we both agreed that effective cooperation is in everyone's interest. We noted that continuing uncertainty is not in Greece's interest and I welcomed confirmation by the Minister that payment owing to the Fund would be forthcoming on April 9th," Lagarde said in a statement released on Sunday.

According to Lagarde, the IMF is committed to continue to cooperate with the Greek authorities in order to help Athens restore the country's economy.

"I expressed my appreciation for the [Greek Finance] Minister's commitment to improve the technical teams' ability to work with the authorities to conduct the necessary due diligence in Athens, and to enhance the policy discussions with the teams in Brussels, both of which will resume promptly on Monday," Lagarde said.

  • On Friday, Greek Deputy Finance Minister Dimitris Mardas said the country had the necessary funds to meet a nearly $500 million interest payment to the IMF planned for Monday, despite earlier reports suggesting that Greece did not have the money.
  • The country is expected to repay another $220 million to the IMF on May 1 and $840 million on May 12.
Greece's debt to the troika of international creditors, that includes the IMF, the European Union and the European Central Bank (ECB), is estimated to be some $270 billion.

Athens and Eurozone finance ministers agreed on the extension of Greece's bailout for four months in February. As part of the deal, Greece promised to implement a range of economic reforms.
  [sputniknews.com]

6/4/15
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2 comments :

  1. Greece’s finance minister has told the International Monetary Fund (IMF) chief that his country will repay a loan from the organisation that is due this week.

    IMF Managing Director Christine Lagarde and Mr Yanis Varoufakis met in Washington yesterday (April 5) for an “informal discussion” on the debt-stricken nation’s reform program, an IMF statement said.

    Greece is in difficult negotiations with creditors over its bailout programme, which has delayed the disbursement of a € 7.2 billion (S$10.7 billion) aid tranche. That has led to a cash crunch, forcing the government to tap reserves.

    “We both agreed that effective cooperation is in everyone’s interest,” Ms Lagarde said in the statement. “We noted that continuing uncertainty is not in Greece’s interest.”

    Greece must repay a € 450 million IMF loan installment on Thursday.
    AP
    http://www.todayonline.com/world/europe/imf-says-greece-confirms-it-will-repay-loan-due-april

    ReplyDelete
  2. La Grecia rimborsa debito 450 milioni di euro a FMI...

    La comunicazione ufficiale da parte del Ministero delle Finanze ellenico.

    "Il pagamento è stato registrato e sarà effettuato in giornata". Con questa stringata comunicazione Atene ha confermato che oggi verrà completata l'operazione di pagamento di 450 milioni di euro, dovuti al Fondo Monetario Internazionale per i prestiti erogati alla Grecia e arrivati alla scadenza.

    Mentre continuano i negoziati con Bruxelles, sulle riforme necessarie allo sblocco di nuovi aiuti finanziari da parte dell'Europa, l'esecutivo Tsipras si trova adesso ad affrontare le prossime scadenze.

    Appuntamento fissato per il prossimo 17 aprile con gli obbligazionisti privati, che dovranno ricevere da Atene entro quella data altri 198 milioni, mentre per la rata da 80 milioni destinata alla BCE c'è tempo fino al 20 di questo mese.
    http://sptnkne.ws/cuF
    9/4/15

    ReplyDelete

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